| The Centrale | |
| Status: | Complete |
| Location: | 138 East 50th Street Manhattan, New York |
| Mapframe-Wikidata: | yes |
| Coordinates: | 40.7559°N -73.9719°W |
| Start Date: | 2016 |
| Completion Date: | 2019 |
| Building Type: | Residential |
| Roof: | 803feet |
| Floor Count: | 64 |
| Floor Area: | 220639square feet |
| Architect: | Pelli Clarke Pelli |
| Developer: | Ceruzzi Properties, SMI USA |
138 East 50th Street, officially named The Centrale, is a residential building in Midtown Manhattan, New York City.[1] The building consists of 124 condominium residences and 7500square feet of ground-floor retail between Third Avenue and Lexington Avenue in Midtown East. The developers planned to sell the condominiums for a total of $535.7 million, or an average of $4.3 million per unit.[2]
Extell Development Company purchased the site in January 2012 for $61 million and sold it to Ceruzzi Properties in August 2014.[3] Initial plans filed in June 2014 indicated the building would be a 52-story, 502feet hotel with 764 rooms designed by SLCE Architects. However, renderings revealed in September 2015 showed the tower would be a 64-story, 803feet condominium tower.[4] In 2015, the developers secured a $65 million loan on the development's land from Industrial and Commercial Bank of China.[5]
Construction began in mid-2016 and topped out during November 2017.[6] In August 2017, the developers received a $300 million construction loan from Madison Realty Capital.[7] The building was completed in early 2019.[8] In February 2020, Korean firm Meritz Securities provided a $350 million inventory loan against the building's remaining unsold condominiums.